Avalon Solutions Group Raises $5M

Dallas-based software developer Avalon Solutions Group, which develops merchant payment processing software, has raised $5M in a funding round, according to the company The company did not disclose the name of the investor in the round. Avalon Solutions Group develops mOmny, software-as-a-service aimed at the small and medium sized business market, which includes point of sale, accounting/Quickbooks integration, and other features. The company, which is led by David Sanders, said it is expanding its office in Dallas as part of the funding, and is hiring both sales and customer support personnel. More information »